Tenant demand on the rise

Tenant demand has risen by 10% in West Yorkshire, the biggest uplift across the UK, research from estate and lettings agent Barrows and Forrester has found.

This means landlords marketing properties across the likes of Leeds, Bradford, Halifax and Huddersfield are spoilt for choice when it comes to selecting tenants.

South Yorkshire, Greater Manchester and Dorset have also enjoyed some of the largest quarterly rental market revivals with a +6% increase when compared to Q1 of this year.

The Barrows and Forrester Rental Demand Index monitors rental listings across the nation, taking an average demand score for each English county based on the number of properties already let as a percentage of all rental listings.

James Forrester, managing director of Barrows and Forrester, said: “Demand for rental properties is once again starting to climb and while tenant activity still remains muted in some corners of the country, the vast majority of the market has blown away any remaining cobwebs caused by a pandemic decline in demand.

“We expect this appetite for private rental stock will only strengthen as the year progresses as a return to normality has revived the need for rental homes across our major cities, in particular.”

Dorset has some of the highest current demand for rental homes, with 62% of those listed on the market in Q2 already seeing a let agreed.

In fact, just West Sussex is currently seeing a greater level of tenant demand at 66%, while Bristol (60%) also makes the top three hottest rental markets in Q2.

However, no less than 21 counties have seen rental demand either remain flat or decline since the start of the year.

Cornwall has seen the largest reduction, down -11% quarter to quarter, with Herefordshire (-10%) and Suffolk (-9%) also seeing some of the largest declines.

Comments 1

  1. As Shelter and the Landlord Bashing Boris continue their attack on the PRS landlords Tenant demand can only go one way UP! as landlords sell and totally lose confidence the Residentail lettings is the place to be. Loss of S21 will the final straw for many. The year on year attacks by crack pot politicians and so called housing charities damage the very people they claim to help. For the brave landlords they will have a better selection of tenants choose from whilst the poorer and problems tenants find street housing in cardboard boxes. Councils, who also attack landlords. will find even less choice with rubbish temporary accommodation being used. This is all thanks to market interference killing the market place. Self interest groups putting their interest above the needy. Even the idiot Gove wants to control who people are allowed to let their property to.

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